Home/ News/ Piyush Goyal: CGTMSE, SIDBI to set up framework for faster processing of SME loans
Piyush Goyal: CGTMSE, SIDBI to set up framework for faster processing of SME loans
Piyush Goyal has directed SIDBI and the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to set up a framework for helping process loans to SME units faster and also provide insurance cover to the SME exporters.
As per the official statement, commerce and industry minister,
Piyush Goyal has directed SIDBI and the Credit Guarantee Fund Trust for Micro
and Small Enterprises (CGTMSE) to set up a framework for helping process loans
to SME units faster and also provide insurance cover to the SME exporters.
According to the statement, the minister has also urged SME
sector manufacturers to produce high-quality goods and follow international
standards so that exports from the SME sector may become a part of the global
value chain.
The minister also examined the possibility of big companies
making full payment to SMEs against delivery so that working capital of SME
units is not blocked. In fact, the minister assured the MSME sector that the
government would give all support and help in the skilling of manpower.
It is reported that many issues related to the MSME sector like
accessing credit from banks, delay in payments from PSUs and government
departments, the issue of GST refund, the dearth of skilled manpower in the SME
sector, and the issue of differing wages in states across the country were put
up for discussion with the minister by MSMEs through industry chambers
including the Confederation of Indian Industry (CII).